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Dec 31 - 02:36 PM
GBP/USD - Erasing Hard-Stop Brexit Pullback With Yearend Tailwind
First appeared on eFXplus on Dec 31 - 01:05 PM
  • Pound well out in front of other currencies gaining against the Dollar

  • Cable up 1%+ and probing 61.8% of 1.3516-1.2900 hard 2020 Brexit drop

  • Close above the 61.8% at 1.3281 targets Dec. 16's 1.3322 pre-breakdown low

  • Trump tweeting Jan. 15 trade deal with China signing date is supportive

  • IMM spec short squeeze ended with last week's flip to small net longs

  • Yearend USD offers may ease in Jan nL1N2950CX, trade, Brexit then key

  • Monday's 1.3150 high & today's 1.3106 low on the 30-DMA decent are props

Chart: Click here

Chart: Click here

Refinitiv IFR Research/Market Commentary


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